Insurance company AAMI says it is revising its policy for drivers caught speeding regularly ??? because there are too many of them.

Lead-foot drivers get insurance break

With 45,000 Victorian drivers on the brink of losing their licences for speeding offences, AAMI says that only those with a "truly horrendous record" are now considered an insurance risk.

"If you have a licence, whether it has got 11 demerit points or one point, we still consider that you're OK to drive," AAMI spokesman Geoff Hughes told The Sunday Age.

Mr Hughes said that when drivers first applied for a policy, they had to reveal how many speeding fines they had received over the previous three years, but this did not normally stop them from being insured. And once drivers were insured, they did not have to inform AAMI when they were caught speeding.

"There used to be an expectation that you would tell your insurer every time you had a speeding fine, certainly at renewal time . . . But AAMI found there was just too much paperwork involved," Mr Hughes said.

"People who are doing two kilometres or three kilometres over the speed limit are more likely to get picked up now than in the old days of the radar gun or the copper following you down the street. Unless they've got a truly horrendous record, it's not going to affect their insurance."

The Sunday Age last month revealed that more than 45,000 drivers were just holding onto their licences with one or two points.

State Opposition Leader Ted Baillieu claimed the drivers had been caught out by the proliferation of speed cameras used by the Government for revenue raising.

More than 150 speed cameras and 83 red-light cameras operate throughout the state.

Police spokeswoman Natalie Webster said speeding motorists were a hazard to other drivers. "Speed cameras form an important part of Victoria Police's overall road safety strategy," she said.